"Nothing in the ordinal logic requires inscriptions to be linked to the “first” sat. So why is it the first sat of the first output? Why not the second sat of the first output? Why not the last, or one of the other hundreds, thousands, or millions of other satoshis which were also present in that same transaction? The answer is, well, because we are _pretending_ that it is so. In other words, we say a sat is inscribed _by fiat_."

~ Southern Hands

You may have heard many claims of the innovative and exciting things being built with ordinals, and how the popular new inscription NFTs are inspiring a flurry of activity and pushing fees higher on the Bitcoin chain. What exactly are ordinals that have made this possible? And how does one own a "scarce digital artifact" on the blockchain? Is there any truth to these claims, or is it all smoke and mirrors?

Check out the original article at Ordinals are Fiat. And Inscriptions aren’t Rare by Southern Hands | Medium (Link: https://tinyurl.com/4zvbauhf)

References and Links to check out:

• Bitcoin Audible - Guy's Take #66 - Pooping in the Park (Link: https://tinyurl.com/38cnu3ft)

• Read_592 by Moxie Marlinspike on NFTs and Web3 ⁠(Link: https://tinyurl.com/3578nwje)

Guest Link

• Southern hands on X (Link: https://tinyurl.com/2eb7z43r)

Host Links

• Guy on Nostr (Link: https://tinyurl.com/yc376bff)
• Guy on X (Link: https://twitter.com/theguyswann)
• Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

Check out our awesome sponsors!

• Get 9% off the COLDCARD with code BITCOINAUDIBLE ⁠⁠⁠⁠⁠⁠(Link: bitcoinaudible.com/coldcard⁠⁠⁠⁠⁠⁠)

"It takes considerable knowledge just to realize the extent of your own ignorance."

~ Thomas Sowell

--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message